Wolsey Ltd

Henry and Ann Wood and their sons founded Wolsey in 1755 in Leicester.

6:09PM BST 21 Jun 2010

The business survives to this day and its heritage and status within the textile industry has been built on design and quality attributes that are as true and integral to the success of the business as they were 255 years ago.

During the early 19th century the company was engaged in the manufacture of stockings, fancy hosiery and caps. This is the legacy of Wolsey and helped establish its early reputation. In October 1897 the company registered the Wolsey trademark.

The name was inspired by the powerful ecclesiastic and statesman Cardinal Wolsey, who was buried in Leicester. Wolsey underwear was selected by both Captain Scott and the Norwegian Roald Amundsen and their teams in 1911 for their race to reach the South Pole.

In 1919 Wolsey underwear was also supplied to Ernest Shackleton for his Murmansk expedition. This was testament to the quality and reliability of the company’s garments. Wolsey is also a proud holder of a Royal Warrant.

In 1935 Wolsey was appointed to hold a Royal Warrant as hosiery manufacturers to his Majesty King George V. This honour has been held through the reigns of consecutive monarchs and remains with the company to the present day. The company was further honoured when in 1959 a Royal Warrant was also granted to Wolsey by Her Majesty Queen Elizabeth, The Queen Mother.

The history of Wolsey is a great business enabler for the company. But times change and gradually, for economic reasons, its manufacturing was done overseas, in India, China and the Philippines. But Wolsey was still very much a British brand. Everything was designed in the UK and the styles and cuts were British.

In 2005, and for three successive years, Wolsey’s sales growth began to incrementally decline. Wolsey was perceived to be an older person’s brand, and the management knew if that continued business would eventually peter out and Wolsey would be finished.

It made some key business decisions and by 2009 that trend was reversed. In the middle of the recession, sales grew again, and underlying EBITDA increased by over 20 per cent by 2010.

How had it managed to do this?

Step one was a gut decision. Wolsey was marketed as a British brand, yet everything was manufactured overseas. The management team thought it appropriate to have some pieces made in the UK, even if production costs are higher.

In 2009, some merino woollen garments were made in Derbyshire; some socks were made in Leicester; some lambswool sweaters were made in Scotland; some Messenger bags were made in Devon.

There was a heritage in these parts of the UK for the manufacture of garments with these products. The thought process was this would make a statement to consumers. In the end it turned out to be a great decision from a commercial perspective.

Wolsey realised that it had to change its target consumer. It’s always marketed itself to the 35+ age group, but today 35 is the new 25! Wolsey wanted consumers to have a different perception of the brand. So it introduced product with a different style, a different cut, better fabric, a different silhouette.

More engineering went into the products, giving them a look and feel of real quality. It launched new ranges, such as rugbys and polos to appeal to a younger market and a market where attitude is more important now than absolute age!

Wolsey also realised it needed to change its method of distribution. A fervent champion of the independent customer (it was a supporter of the Association of Independent Suppliers, AIS) Wolsey sells to over 600 independent stores. But these suppliers and stores are under pressure from the large, high street names.

Whilst the independent trade remains as the main focus for the UK wholesale operation, new channels of distribution had to be found, not least to bring a younger clientele to Wolsey so work began to strengthen its website, making it a welcoming first point of contact for all customers, be they the single purchaser, retailers, wholesalers or licensees from around the world.

Going forward, Wolsey has an ambition to grow the business overseas, and in the short term that means Europe. It has a license agreements in place all over the world. Some work more successfully than others. One of the most successful is in Sweden, where its licensee has pitched and marketed Wolsey alongside other great lifestyle/leisurewear brands.